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8 September 2026

HMM locks in $3.4bn Vale iron ore contract

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Source reporting: Splash247

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HMM locks in $3.4bn Vale iron ore contract

HMM has signed a long-term iron ore transportation contract with Brazilian mining giant Vale worth approximately KRW4. 7trn ($3. 4bn), further strengthening the Korean carrier’s push into stable long-duration dry bulk business. The agreement will run for 25 years per vessel, with transportation commencing in 2030. It is HMM’s third major long-term contract with Vale, following two …

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